The Canada-Nova Scotia Offshore Petroleum Board received successful bids from Statoil Canada to invest nearly US$61.7 million (CAD $82 million) to explore two properties, which were part of the board's 2015 call for bids.
"We are thrilled to welcome an experienced and well-respected company like Statoil to our offshore," said Energy Minister Michel Samson. "Statoil's projects will build on Shell Canada and BP's billion-dollar exploration projects, reaffirming global interest in Nova Scotia's offshore resources."
The Canadian government has stepped up its efforts to attract investment in the offshore. In 2014 government announced a four-year commitment to spend about $9 million (CAD $12 million) to collect more geoscience research and market that data to oil companies around the world.
A portion of this year's research covered the parcels bid on by Statoil.
"These projects will create even more economic activity for our communities and for the ocean sector service and supply chain," said Samson. "And, if all goes well, Nova Scotians will benefit from royalties in the future from these projects."
Statoil has business operations in more than 30 countries and is a major operator in offshore Newfoundland and Labrador. The company owns interests in several exploration, development and production licenses, granted by the Canada-Newfoundland and Labrador Offshore Petroleum Board.
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